The trustee for Pacific Andes is initiating the sales process for the company's Peruvian assets (Peruvian OpCos), according to court documents.
The Chapter 11 Trustee of CFG Peru Investments Pte. Limited, William Brandt, Jr, "is currently taking the preliminary steps towards [the] potential sale process" of the Peruvian OpCos, said the documents.
The operations -- which include Pacific Andes' anchovy fishing, fishmeal and fish oil production in Peru -- have "repeatedly been acknowledged to be the “crown jewels” of these Chapter 11 Cases and are likely to be the prime source of creditors’ recoveries across all debtor entities," according to court documents filed Wedneday.
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